fred_hepner | Performer |
7/29/2009 - 5:04 pm

For most small businesses, the Texas Franchise Tax is of no consequence. Entities with revenue under $300K receive a credit that essentially eliminates the tax. There are several special exceptions that increase this level of revenue for certain industries. If your business entity will generate revenue above $300k, then you would probably want to consider the franchise tax.
There is no franchise tax on sole proprietorships. Texas also does not have a personal or corporate income tax. Everyone's situation is unique, so use careful consideration in choosing the state of formation.
- attorneyhepner.com

erinwhaley | Contributor |
7/23/2009 - 10:46 am

Phanio is right - there are many factors to consider when looking at business locations.
But out of curiousity, I just used our Loans &amp; Grants search tool and discovered that Wisconsin happens to have a specific loan program for women and minorities:
Linked Deposit Loan (LiDL) Subsidy

phanio | Contributor |
7/23/2009 - 3:26 am

Why those states? If it does not matter to your business, there are many better states to form your business in. I don't know Wisconsin - but Texas has a very high franchise tax rate.
Being a minority has nothing to do with which state you form your business in.
Your better option is to pick the state that you think will offer your business the most advantages - location to customers, labor or other resources.